S&P ups Eskom view to stable

Standard & Poor's said it revised the outlook on Eskom Holdings Ltd. to stable from negative.

The agency also said it affirmed its long-term foreign- and local-currency corporate credit ratings at BBB+ and the long-term South Africa national scale rating at zaAA.

The outlook revision and affirmation follow similar actions on the Republic of South Africa, S&P said.

The actions also reflect a view that the downward pressure on the company's stand-alone credit profile has eased following actions that the company has taken over the past 12 months to address funding gaps in 2011 to 2013, the agency said.

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